Paytm founder Vijay Shekhar Sharma said that Paytm Mall’s business will now be built on Open Network for Digital Commerce (ONDC), bringing a larger impact to small businesses.
“Keeping in mind our attention to building an open platform for e-commerce, our @PaytmMall ‘s business now be built on @ONDC_Official. It will be cost effective, scalable and bring even larger impact to small businesses,” he said.
Sharma quoted an agency report on Paytm Mall’s pivot to ONDC and how it will explore opportunities in exports business in place of traditional physical goods e-commerce.
This move will enable the company to create a long-term sustainable business in partnership with ONDC that seeks to democratise the purchase and sale of goods in the Indian market. One97 Communications has indirect shareholding in Paytm Mall’s parent entity Paytm E-commerce Private Limited (PEPL).
A Paytm Mall spokesperson said, “We are set to build on the revolutionary ONDC programme by the Government of India to drive online commerce in India. We also plan to explore opportunities in the export market. We are grateful for the support of our investors and look forward to driving sustainable growth.”
As part of a shift in business direction, PEPL sees the exit of early investors Alibaba and Ant Group.
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